@Anonymous wrote:@SouthJamaica How many accounts with a balance do you normally go up or down to get a change in Score 2 and what is that typical change?
and do those thresholds lineup with this?
Usually FICO 2 doesn't move over small potatoes like that, when in the realm of my revolving accounts.
I think something different is going on because these are installment loan accounts.
@Thomas_Thumb wrote:
@SouthJamaica wrote:OK so first possible result came in today, when 1 of the 5 closed loans reported.
EX 2 added 6 points, no change in negative reason codes.
EX 8 no change.
(There were 2 revolving utilization improvements which could have contributed to, or caused, the increase. 1 account went from > 50% (50.1%) to < 50% (46.9%), 1 went from 68% to 53%, rounded aggregate went from 30% to 29%. But typically my EX FICO 2 is very stuck up and doesn't budge over such trivialities
).
Did your oldest open loan (2 years) report as closed for the above or was it still reporting as open?
The one that's slightly over 2 years old is still there as of today. The ones that have dropped off so far are both loans I'd picked up this Spring when Covid hit.
@SouthJamaica wrote:Methinks you give them too much credit
Perhaps I do, who knows.
A lot of the time I just go with my gut in terms of whether or not I think a profile change of X resulting in a score shift of Y makes "sense." To me, the one you mentioned actually does make sense.
@Anonymous wrote:@SouthJamaica Thanks! Good data SJ. If that change of number of revolvers with a balance wouldn’t make a change then this has got to be the loan ratio, imho.
Well isn't the loan ratio going in a downward direction?
I.e. isn't it supposed to be better for a higher percentage of your open accounts to be loans rather than revolvers?
@SouthJamaica wrote:
@Thomas_Thumb wrote:Did your oldest open loan (2 years) report as closed for the above or was it still reporting as open?
The one that's slightly over 2 years old is still there as of today. The ones that have dropped off so far are both loans I'd picked up this Spring when Covid hit.
Thanks, I will be interested to know if the older loan closure has a negative impact on score due to a reduction in both average age of open loans and age of oldest open loan (assuming it can be isolated). [code 36]
Another loan fell off today. There was no change at all in EX FICO 2 or 8.
In anticipation of @Thomas_Thumb 's question, this was the oldest of the loans -- the one that was a few months over 2 years old.
@Anonymous wrote:@SouthJamaica I noticed some loan points at 30 months. Maybe that is the first breakpoint. Maybe that’s why you didn’t lose anything, you did say it was over two years but it’s not yet 30 months, right?
The question for me, if there is a question, is why I didn't gain points. I gained FICO 2 points when each of the other 2 younger loans were paid off.